A.I. to United States of America
Eligible businesses can apply for free support to export to the USA. Applications closed Sunday 13 August 2023.
September to December 2023
The AI SummitExternal Link in New York City on December 6-7, 2023
In-person attendance at the event is required
Why this market
The United States is consistently ranked among the best internationally for its overall competitiveness and ease of doing business. Backed by a regulatory environment that is particularly conducive to starting and operating a business, U.S. business culture encourages free enterprise and competition. The United States offers the largest consumer market on earth with a GDP of $20 trillion and 325 million people.
The global AI market size is expected to reach $407 billion by 2027 experiencing substantial growth. AI will have an estimated 21% net increase on the United States GDP by 2030 and is expected to contribute a significant 21% net increase to the United States GDP by 2030, showcasing its impact on economic growth.
The level of investment in AI has increased alongside its rising adoption, whereby investors globally have poured more than $40 billion into AI startups in the past six months. That includes a $10 billion investment by Microsoft in Open AI and $1.3 billion in funding for rival Inflection AI.
US venture capital funding of generative AI was up 27% year over year in 2022, hitting $1.4 billion, according to PitchBook. Generative AI is the buzziest topic in tech right now, stealing the spotlight from nonfungible tokens (NFTs) and the metaverse.
Participation requirements and success factors
Eligibility for the overall Program
- Have headquarters in NSW
- Have a valid Australian Business Number (ABN) registered for NSW
- Be export-capable and export-ready
- Have an employee number between 3 and 199 full-time equivalent (FTE) employees
- The product or service must be produced primarily in NSW
- The product or service is achieving sales already in NSW
- Have a website featuring the product or service
- Be prepared to adapt the product or service for the new market
- Be flexible regarding market-entry method
- Have resources to support marketing and development for a new market
- Be willing to travel to the selected market and/or to Sydney for events, and must cover own travel expenses
Note this program is designed for NSW businesses who produce and own their own brand. This program is not for aggregators, traders, or businesses who sell services to exporters.
Additional eligibility requirements for this stream
- Already generating revenue or already have funding to support US market expansion
- Clear pathway to profitability or already a profitable business
- Already identified potential customers / partners in the US - and/or some market traction
The ideal participant
- Unique and innovative A.I product
- Compelling proposition for the US market
- Have established a US product-market fit
- May have an employee who already does some work in the US
- Commitment to scale to the US within the next 12 months
Businesses not eligible for this stream
- Previous Going Global Export Program participants “to the USA”
- Consultants selling solutions to AI companies
- Welcome session – 26 September TBC
Market intelligence briefings and cultural training
- The USA AI tech ecosystem
- Go-to-market strategy
- Pitch coaching
- Setup (business registration, tax and structure)
- Raising capital in the US (preparation, representation and legal)
- Selling AI Solutions into large enterprises.
Preparation to meet potential partners/customers
- Help refining your pitch and go-to-market strategies
- 1:1 advisory from Investment NSW staff
- Access to mentor(s) to advise your business on USA expansion
Introductions to potential partners/customers
- A ticket for one delegate to attend the tradeshow
- Opportunities to network with potential customers and partners
- Introductions to in-market stakeholders, potential partners and customers
Ongoing advice and follow up
- Ongoing support provided by a dedicated NSW Government Export Adviser.
*note: the curriculum is subject to change
How to Apply
Applications closed Sunday 13 August 2023
Applicants will be notified of the outcome around 28-29 August.
Note: Apply for your preferred market - you can apply for and participate in only one stream.